The Justice Department, joined by more than a dozen states, has announced a proposed settlement with three major U.S. egg producers over allegations that the companies worked together to influence egg prices.
Federal antitrust officials and state attorneys general alleged that Cal-Maine Foods, Versova/Centrum and Hickman’s Egg Ranch coordinated efforts to artificially raise daily egg price benchmarks from June 2022 through March 2025. Investigators said the conduct contributed to higher costs for retailers and, ultimately, consumers.
According to the Justice Department, the companies supply eggs to grocery chains, restaurants and other retailers throughout the United States.
“We are proud that these settlements will keep egg prices competitive and keep money in the hands of consumers across the country,” Deputy Assistant Attorney General Nicole Sarrine of the Justice Department’s antitrust division said in a statement on Tuesday.
Under the proposed agreement, the companies must donate a combined 53 million eggs to food banks and community organizations in the states involved in the settlement. They will also pay $3.3 million to those states, according to a June 29 complaint filed by the Justice Department and state officials.
The complaint claims that Cal-Maine, Hickman’s and Versova conspired to submit bids designed to affect egg price quotations, allegedly making demand appear stronger than it was. Those daily quotations, published by market reporting company Urner Barry, are widely used as a benchmark in the egg industry and help determine what retailers across the country pay for eggs, the suit said.
“Every year, billions of eggs are sold with prices based on Urner Barry’s price quotations,” the Justice Department said in its statement.
Cal-Maine, the Mississippi-based company that describes itself as the nation’s largest producer and distributor of eggs, denied the allegations and said in a statement that the claims were “baseless.”
Iowa-based Versova said it is “pleased the U.S. Department of Justice investigation has been resolved without any finding of or admission of wrongdoing.”
Arizona-based Hickman’s did not immediately respond to a request for comment.
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The Justice Department said the settlement, which must still be approved in court, will deter the companies from communicating with competitors to influence egg prices.
The cost of eggs has been a pain point for American shoppers in recent years. Prices hit record highs last year amid an avian flu outbreak that decimated the country’s poultry flocks. A carton of large Grade A eggs now sells for an average of $2.19, down from $6.23 in March 2025, according to the Federal Reserve Bank of St. Louis.
In its statement, Cal-Maine cited bird flu and the COVID-19 pandemic as the main drivers of volatility in egg prices. Versova also pointed to the bird flu and said it was not responsible for setting prices.
“Egg farmers in the United States don’t set the wholesale price of eggs, which are a commodity product,” Versova said in a statement. “At Versova, most of our eggs are sold on grain-based contracts, which means the price our customers pay fluctuates based on the costs of grain inputs for hen feed.”
Alain Sherter